From Business Day (South Africa), about the Zambian-born moderate-conservative economist: "The African National Congress (ANC) rejected nationalisation
of South Africa’s mines at its policy meeting in Mangaung last year. The
party did, however, adopt the State Intervention in the Mining Sector
report, which included proposals for windfall taxes, the creation of a
state mining corporation and declaring certain commodities as strategic
resources."
The article continues about Dr. Moyo, who will keynote a speech tomorrow at an international mining conference in South Africa: "'We need to
understand the government's role as measures such these are not viable
in the long term,' Ms Moyo said in an interview with Business Day on
Friday. Ms Moyo, who has worked at the World Bank, emphasised that
the concept of resources nationalism was not unique to South Africa,
and by extension Africa, but rather a global phenomenon. 'South
Africa is not immune to what’s happening across the world,' she said. 'However any increase as proposed by the government could lead to
industry structural pressure — that is, demand pressures relative to the
availability of supply — as well as tactical pressures' she said. 'Although
I see a lot of tension, I think that such measures will be tragic, as
this will lead to higher volatility in commodity prices and lower
investments in the mining industry.' She added: 'It’s also a question of the ability of the government to run the mines.'"
Dambisa Moyo Warns Against Nationalization In South Africa
